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Non-Tech : Web Street Securities (WEBS)
WEBS 18.51+7.7%Oct 30 4:00 PM EDT
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To: blast_investor who wrote (1319)5/1/2000 10:06:00 PM
From: wlcnyc  Read Replies (1) of 1339
 
"Annoyed by the limit order restriction."

That has been a "thorn in my side" since my first encounter with it at Web. However, I have since found that Fidelity has a price limitation of 30% of the current price and Citicorp has one of 20% of the current price. Even though these limitations are based on the current price, they can be almost as annoying as those based on yesterday's closing. It means you must maintain a constant vigil in order to enter your desired price. Of course, you can call a broker and have them enter the desired price - outside the limit. This I try never to do with Web because the few times that I have done it, the broker order was not visible to me. I never knew if it was actually entered or its status and as a result I could not change or cancel it. There must be a better way!

Bill

p.s. The price limitation on "penny stocks" at Web is 300% which is not always very realistic either.
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